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Stocks resume sell-off; Dow finishes down 519 NEW YORK (AP) — Back to reality for the stock market — and back down. Wall Street focused Wednes- day on the bleak landscape ahead for the economy and sold off, wiping out the big gains from a day earlier and then some. The Dow Jones industrial average closed down 519 points. The selling was intensified by worries about debt problems in Europe. On Tuesday, the Federal Reserve said it planned to keep interest rates ultra-low for two more years. After some initial confusion, the stock market staged a huge comeback and had one of its best days. But the interest-rate news proved to be a distraction. The Fed made the pledge because it sees almost no chance that the economy will improve substan- tially by 2013, and when investors focused on that, they dumped stocks again. ‘‘Now it gets back to the fun- damentals,’’ said Mark Lamkin, founder of Lamkin Wealth Man- agement, which manages $215 million. The Dow closed at 10,719.94, down 4.6 percent for the day. By points, it was the ninth-steepest decline for the market. The Dow has now lost more than 2,000 points in less than three weeks. Wednesday was another day marked by big moves. The Dow was down more than 300 points within minutes of the opening bell. It recovered some of that loss, then drifted steadily lower in the last two hours. The market has traded that way for two weeks, lurching up and down. The most extreme example was Tuesday, when the Dow swung more than 600 points Thursday, August 11, 2011 – Daily News 5B LEGAL NOTICE battered by fears about banks holding bonds of heavily indebted countries such as Greece and Por- tugal. ‘‘It’s the same game of Old Maid playing out in Europe that was played out here during the subprime mortgage crisis,’’ said Quincy Krosby, an economist and market strategist with Prudential Financial. The fear is that if European governments default on their bonds, it will hurt the European banks that own them. That could start a chain reaction that hurts the United States, because large U.S. banks own European bank debt. Europe is also a big market for U.S. companies. It accounted for about 29 percent of foreign sales for S&P 500 companies last year. France came under pressure in the one hour and 45 minutes after the Fed’s statement. The stomach-churning highs and lows are reminiscent of the fall of 2008, the depths of the financial crisis, when swings of 800 or even 1,000 points in day were not unheard of. Computerized trading systems — programmed to analyze charts, capitalize on the tiniest changes in price and execute trades with no human intervention — are mak- ing the market rougher. High-frequency trading pro- grams make up about half of the trades in a normal market day but 70 percent or more on a volatile one. The programs pounce on stock changes to make just slivers of a penny but do it so often that it adds up to real dollars. Other investors also use charts and market indicators to make trades based on market momen- tum. The bet is that if the market is rising, it will keep rising, and if it’s falling, it will keep falling. More investors are turning to this strategy because the sudden slowdown in the economy has left them unable to judge companies based on their fundamentals, like projected profits. The more peo- ple use a momentum strategy, the faster the decline. The S&P 500 finished the day down 4.4 percent and the Nasdaq composite index down 4.1 per- cent. Financial stocks led the market lower. Bank of America and Citi- group each lost more than 10 per- cent of their market value. Wall Street is worried because it does- n’t know how badly American banks might be hurt by Europe’s debt problems. Investors fear Italy and Spain will be the next countries unable to repay their debts. The Euro- pean financial system has been Washington boy pulled lifeless from ocean out of ICU LONG BEACH, Wash. (AP) — Charles Ostrander’s head hung back lifelessly as he was carried out of the frigid Pacific, 15 minutes or more after a riptide sucked in the 12-year-old. Today, he’s alive. How? You could say prayers. There were many along the beach late last week as his body bobbed limply just below the ocean’s surface. But there was also a team of volunteer rescuers, the medics who per- formed CPR well after all seemed lost, and anoth- er 12-year-old who risked her own life to help him before anyone else could. And there was the ocean itself. At 56 degrees, the water was cold enough that it may have bought rescuers a little time. The boy, who goes by his nickname, Dale, has spoken a few words since his ordeal and was moved out of intensive care Wednesday. It’s unclear whether he’ll fully recover, but his parents, Chad and Kirsten, have hope. ‘‘There’s been several miracles just in the cir- cumstances of finding him, the fact that he’s not dead, the fact that he can move, the fact that he can speak,’’ Chad Ostrander said. ‘‘Unbelievable.’’ Dale was visiting the southwest Washington coast with members of his church youth group Fri- day when the ocean’s strong currents pulled him and another boy far from shore. They were just wading, not swimming, said Dale’s father, who was at the family’s home in Spanaway, Wash., when it happened. ‘‘A riptide hit them, kind of knocked them off their feet,’’ said Shanon Kissel, a sawmill worker who was boogie boarding in a shallow area nearby with his daughter, Nicole. Nicole took off after Dale on her boogie board, even though her father was yelling that she was going into a dangerous area. ‘‘She didn’t hear me. She just kept going after Dale,’’ Kissel said. The boy, dressed in a long-sleeve shirt and long pants, struggled onto Nicole’s three-foot boogie- board. The pair paddled ferociously toward shore as the rip current pulled them even farther from it. Nicole said Dale told her, ‘‘Keep paddling. We’re almost there.’’ ‘‘He told me his name, how old he was,’’ she said. ‘‘I said a bad word and he said, ‘God doesn’t like that.’’’ Shanon Kissel said he reached the other boy — who was not identified — and pulled him onto his own board. He yelled at bystanders to call 911 and went to call for help himself. When Kissel got back in the water he saw Nicole and Dale clinging to her board, turned side- ways in rolling waves about 150 feet beyond the crashing surf. He was swimming out to the chil- dren when a wave knocked the pair off her board. ‘‘She turns around to face him like she’s gonna go back after him,’’ Kissel said. ‘‘I had to tell her to get back on the board.’’ She did, but Ostrander had disappeared. Fire officials and other rescuers arrived. Some stood atop trucks, using binoculars to try to locate the boy. Members of Dale’s church group cried and prayed, kneeling in the sand. Eddie Mendez, a volunteer water rescuer, was working his day job at a construction site when the emergency call came in. The 34-year-old immedi- ately drove over to the beach and changed into a wet suit while his colleague launched two jet skis. Mendez said he saw a shadow moving under the breaking water offshore, so he and a diver rushed over. They scanned the area for a few min- utes before Mendez spotted the shadow again. They found the boy floating about two feet below the surface of the water. ‘‘He was white-pale and face down,’’ Mendez said. As they pulled the boy on board, Mendez real- ized he was rescuing a child — about the age of his own daughter. ‘‘I thought, ‘Wow, this is like my own child,’’’ Mendez said. Mendez drove the boy to the beach, where emergency responders began trying to revive him. There was no sign of life but they kept performing CPR as they transported him. Finally, after Dale reached a nearby hospital, his pulse returned. Then Dale was flown from the southwest Wash- ington coast to OHSU Doernbecher Children’s Hospital in Portland, Ore. His parents were still steeling themselves for the worst. ‘‘I expected to say our goodbyes and so did my wife, and we were just prepared for that,’’ Chad Ostrander said. But on Sunday night, as he was eased off sedatives, Dale opened his eyes. ‘‘At that moment, that was the first glimmer of any hope,’’ his father said. ‘‘It didn’t mean he was going to make it. It just meant that there was hope.’’ Generally, the chances of surviving a near- drowning increase when a person is young, the water is cold and the time spent underwater is short. Dr. Mark Morocco, an emergency room doctor at the Ronald Reagan UCLA Medical Cen- ter, said medical literature cites at least one case in which a person survived after being submerged for about an hour. Morocco said the fact that Dale was wearing long sleeves probably helped him. It is not clear how long the boy was actually underwater. Mendez said about 15 minutes elapsed between the time rescuers were dispatched and the time Dale was pulled from the ocean. Morocco, who was not involved in Dale’s care, said swift treatment was key. He credited rescuers for continuing resuscitation efforts even though the boy lacked a pulse and reflexes. ‘‘When this kid came out of the surf, he looked dead,’’ he said. ‘‘But you have to ignore the fact that he looks dead’’ and give CPR. Dale starting talking on Monday. When his par- ents encouraged him to cough to clear his throat, he replied, ‘‘I don’t have to.’’ Doctors have cautioned his parents that even if Dale survives, he could have permanent brain damage. The physicians ‘‘were very clear that he had been under for too long, had been without oxygen for too long,’’ Kirsten Ostrander said. ‘‘We trust (God) no matter what.’’ Dale will need speech and physical therapy, and can’t get out of his hospital bed yet, his father said. ‘‘Things are going along better than anyone expected so at this point we’re very happy,’’ he said. ‘‘Honestly, all of the doctors’ prospects are very negative. They’re very honest and blunt. But they said every once in a while there’s a miracle, and we don’t want to give up on that,’’ Ostrander said. Dale has uttered a few more words. Ostrander said that when he told him he couldn’t get out of bed, ‘‘He reared up and said, ‘Yes, I can.’’’ Two more words came Wednesday, when Nicole Kissel visited him. She said he seemed to have trouble focusing his eyes for most of the 15-minute reunion. But as she left, he made eye contact for the first time and said, ‘‘Thank you.’’ Wednesday amid concerns that it could become the next country to lose its top AAA rating. The cost of insuring against a default of French government debt hit a record, according to data from Markit. In Asia, the concern is that higher inflation in China could lead to slower growth. China, Brazil and other less-developed countries have provided the strongest economic growth since the world began to recover from recession in 2009. Gold rose above $1,800 per ounce for the first time as more money poured into investments considered safe at a volatile time for the financial markets. Gold closed up about $41 at $1,784. It first passed $1,600 only in late May. The 10-year Treasury note, which has also served as a haven, also rose sharply. Its yield fell to 2.11 percent from 2.26 percent late Tuesday. Legal Notices Legal Notices LEGAL NOTICE NOTICE OF TRUSTEE’S SALE Trustee Sale No. 246269CA Loan No. 1065647189 Title Order No. 655140 YOU ARE IN DEFAULT UN- DER A DEED OF TRUST DATED 09- 16-2008. UNLESS YOU TAKE AC- TION TO PROTECT YOUR PROP- ERTY, IT MAY BE SOLD AT A PUB- LIC SALE. IF YOU NEED AN EX- PLANATION OF THE NATURE OF THE PROCEEDINGS AGAINST YOU, YOU SHOULD CONTACT A LAWYER. On 08-18-2011 at 02:00 PM, RECONVEYANCE COMPANY as the duly appointed Trustee un- der and pursuant to Deed of Trust Recorded 09-18-2008, Book N/A, Page N/A, Instrument 2008013661, of official records in the Office of the Recorder of TEHAMA County, California, exe- cuted by: TROY WRIGHT AND DI- ANA L. WRIGHT, HUSBAND AND WIFE, as Trustor, JPMORGAN CHASE BANK, N.A., as Beneficia- ry, will sell at public auction sale to the highest bidder for cash, cashier’s check drawn by a state or national bank, a cash- ier’s check drawn by a state or federal credit union, or a cash- ier’s check drawn by a state or federal savings and loan associ- ation, savings association, or savings bank specified in sec- tion 5102 of the Financial Code and authorized to do business in this state. Sale will be held by the duly appointed trustee as shown below, of all right, title, and interest conveyed to and now held by the trustee in the hereinafter described property under and pursuant to the Deed of Trust. The sale will be made, but without covenant or warran- ty, expressed or implied, regard- ing title, possession, or encum- brances, to pay the remaining principal sum of the note(s) se- cured by the Deed of Trust, in- terest thereon, estimated fees, charges and expenses of the Trustee for the total amount (at the time of the initial publication of the Notice of Sale) reasonably estimated to be set forth below. The amount may be greater on the day of sale. Place of Sale: THE MAIN ENTRANCE TO THE TEHAMA COUNTY COURTHOUSE, 633 WASHINGTON STREET , RED BLUFF, CA Legal Description: LOT 137 OF WILLOW CREEK SUB- DIVISION UNIT NO. 1, TRACT NO. 91-1013, FILED JANUARY 11, 1993, BOOK X OF MAPS, AT PAGES 66 THROUGH 71. Amount of unpaid balance and other charges: $248,709.83 (estimated) Street address and other common des- ignation of the real property: 1212 SOUTHPOINTE DR RED BLUFF, CA 96080 APN Number: 031-290-21-1 The undersigned Trustee disclaims any liability for any incorrectness of the street address and other com- mon designation, if any, shown herein. The property heretofore described is being sold "as is". In compliance with California Civil Code 2923.5(c) the mortgagee, trustee, beneficiary, or authorized agent declares: that it has contacted the borrower(s) to assess their fi- nancial situation and to explore options to avoid foreclosure; or that it has made efforts to con- tact the borrower(s) to assess their financial situation and to explore options to avoid foreclo- sure by one of the following methods: by telephone; by Unit- ed States mail; either 1st class or certified; by overnight deliv- ery; by personal delivery; by e- mail; by face to face meeting. DATE: 07-28-2011 CALIFORNIA RECONVEYANCE COMPANY, as Trustee MARIA MAYORGA, AS- SISTANT SECRETARY CALIFOR- NIA RECONVEYANCE COMPANY IS A DEBT COLLECTOR ATTEMPT- ING TO COLLECT A DEBT. ANY IN- FORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. Cali- fornia Reconveyance Company 9200 Oakdale Avenue Mail Stop: CA2-4379 Chatsworth, CA 91311 800-892-6902 For Sales Informa- tion: (714) 730-2727 or www.lpsasap.com (714) 573-1965 or www.priorityposting.com ASAP# 4043786 07/28/2011, 08/04/2011, 08/11/2011 CALIFORNIA Foreclosure Sale USDA - Rural development will offer at public auction the property located at: 7714 CONE AVENUE, LOS MOLINOS, CA 96055 On 08/25/2011, at 02:00 PM at the main entrance to the Tehama County Courthouse, 633 Wash- ington St., Red Bluff, CA Estimat- ed Opening Bid: $ 13,100.00 Ap- praised Value: $ 30,000.00 Sale information may be obtained online priorityposting.com or Default Resolution Network 916-636- 0114. TS #: 11-00095-2 Informa- tion contained herein is believed to be accurate but is not guar- anteed. Bids are subject to change at any time. P863268 8/4, 08/11/2011 at www. LEGAL NOTICE Trustee Sale No. CA01000094-10 APN 049-070-091 Title Order No. 55015330 NOTICE OF TRUSTEE’S SALE YOU ARE IN DEFAULT UN- DER A DEED OF TRUST DATED 3/31/2005. UNLESS YOU TAKE ACTION TO PROTECT YOUR PROPERTY, IT MAY BE SOLD AT A PUBLIC SALE. IF YOU NEED AN EXPLANATION OF THE NATURE OF THE PROCEEDINGS AGAINST YOU, YOU SHOULD CONTACT A LAWYER. On August 25, 2011, at 02:00 PM, at the main entrance to the Tehama County Court- house, 633 Washington St., Red Bluff, CA, MTC FINANCIAL INC. dba TRUSTEE CORPS. as the duly appointed Trustee. under and pursuant to the power of sale contained in that certain Deed of Trust Recorded on April 7, 2005, as Instrument No. 007278, Book 2680, Page 226, of official records in the Office of the Re- corder of Tehama County, Cali- fornia, executed by RICKY V. WILSON AND HELEN J. WILSON, HUSBAND AND WIFE AS JOINT TENANTS, HELEN J. WILSO, as Trustor(s), in favor of MORT- GAGE ELECTRONIC REGISTRA- TION SYSTEMS, INC. as original Beneficiary, and GATEWAY BUSI- NESS BANK, DBA MISSION HILLS MORTGAGE BANKERS, A CALI- FORNIA CORPORATION, as origi- nal Lender WILL SELL AT PUBLIC AUCTION TO THE HIGHEST BID- DER, in lawful money of the Unit- ed States, all payable at the time of sale, that certain proper- ty situated in said County, Cali- fornia describing the land there- in as: BEGINNING AT THE NORTH- WEST CORNER OF THE SOUTH- WEST QUARTER OF THE SOUTH- WEST QUARTER OF SECTION 14, TOWNSHIP 27 NORTH, RANGE 3 WEST, MOUNT DIABLO BASE AND MERIDIAN, AS SHOWN ON THAT CERTAIN MAP ENTITLED: "MCHIE ACRES IN SOUTHWEST QUARTER OF SOUTHWEST QUARTER OF SECTION 14 TOWNSHIP 27 NORTH, RANGE 3 WEST, MOUNT DIABLO BASE END MERIDIAN", FLIED IN THE OFFICE OF THE COUNTY RECORDER OF THE COUNTY OF TEHAMA, STATE OF CALIFORNIA, MAY 2,1951, IN BOOK J OF MAPS, AT PAGE 21; THENCE SOUTH 01°54’ EAST ALONG THE WEST LINE OF SAID SECTION 14, A DISTANCE OF 600 FEET; THENCE NORTH 89°40’ EAST, A DISTANCE OF 192.00 FEET TO THE TRUE POINT OF BE- GINNING OF THIS DESCRIPTION; THENCE NORTH 89°40’ EAST 120,00 FEET; THENCE SOUTH 01°54’ EAST 87.50 FEET; THENCE SOUTH 89°40’ WEST 120,00 FEET; THENCE NORTH 01°54’ WEST 87.50 FEET TO THE TRUE POINT OF BEGINNING. TOGETHER WITH AN EASEMENT FOR ROAD PUR- POSES DESCRIBED AS FOLLOWS: BEGINNING AT THE TRUE POINT OF BEGINNING OF THE ABOVE DESCRIBED PARCEL; THENCE SOUTH 01°54’ EAST 295.00 FEET; THENCE SOUTH 89°40’ WEST 36.00 FEET; THENCE NORTH 01°54’ WEST 295.00 FEET; THENCE NORTH 89°40 EAST 36.00 FEET TO THE TRUE POINT OF BEGINNING. The property heretofore descri- bed is being sold "as is". The street address and other com- mon designation, if any, of the real property described above is purported to be: APN: 049-070- 091 More Commonly known as: 23016 FAYE STREET, RED BLUFF, CA 96080 The undersigned Trust- ee disclaims any liability for any incorrectness of the street ad- dress and other common desig- nation, if any, shown herein. Said sale will be made, but with- out covenant or warranty, ex- press or implied, regarding title, possession, or encumbrances, to pay the remaining principal sum of the Note(s) secured by said Deed of Trust, with interest thereon, as provided in said Note(s), advances if any, under the terms of the Deed of Trust, estimated fees, charges and ex- penses of the Trustee and of the trusts created by said Deed of Trust. The total amount of the unpaid balance of the obliga- tions secured by the property to be sold and reasonable estimat- ed costs, expenses and advan- ces at the time of the initial pub- lication of the Notice of Trust- ee’s Sale is estimated to be $158,247.86 (Estimated), provid- ed, however, prepayment premi- ums, accrued interest and ad- vances will increase this figure prior to sale. Beneficiary‘s bid at said sale may include all or part of said amount. In addition to cash, the Trustee will accept a cashier‘s check drawn on a state or national bank, a check drawn by a state or federal credit union or a check drawn by a state or federal savings and loan association, savings asso- ciation or savings bank speci- fied in Section 5102 of the Cali- fornia Financial Code and au- thorized to do business in Cali- fornia, or other such funds as may be acceptable to the trust- ee. In the event tender other than cash is accepted, the Trust- ee may withhold the issuance of the Trustee‘s Deed Upon Sale until funds become available to the payee or endorsee as a mat- ter of right. The property of- fered for sale excludes all funds held on account by the property receiver, if applicable. If the Trustee is unable to convey title for any reason, the successful bidder‘s sole and exclusive rem- edy shall be the return of mon- ies paid to the Trustee and the successful bidder shall have no further 7/27/2011 Trustee Corps, as the duly appointed substitute trust- ee Matt Kelley, Trustee Sales Of- ficer TRUSTEE CORPS 17100 Gil- lette Avenue, Irvine CA 92614 FOR SALE INFORMATION CON- TACT: (714)573-1965, (949) 252- 8300 FOR REINSTATEMENT / PAY OFF REQUESTS CONTACT: (949) 25 2-8 3 recourse. DATE: RPRequests@trusteecorps.com SALE INFORMATION CAN BE OB- TAINED ON LINE AT www.priorityposting.com TRUSTEE CORPS IS A DEBT COL- LECTOR. ANY INFORMATION OB- TAINED WILL BE USED FOR THAT PURPOSE. P863955 8/4, 8/11, 08/18/2011 0 0